An investor passes by automatic stock trading boards at Tan Viet Securities in Hanoi. (Source: VNA)
Vietnamese shares September 29 extended their losses for a second day on the two local markets as low global oil prices sent energy stocks down.
The benchmark VN-Index on the HCM Stock Exchange dropped 0.7 percent to close at 561.19 points and the HNX-Index on the Hanoi Stock Exchange lost 0.3 percent to finish at 77.94 points.
US benchmark crude oil West Texas Intermediate September 29 traded at 44.44 USD a barrel, down slightly from the previous day’s value. WTI has fallen nearly 10 percent since it hit a two-month peak at 49.20 USD a barrel on August 31.
At the end of September 29, local energy firms were down an average of 2.4 percent.
Among the largest energy firms, Petrovietnam Gas Corp (GAS) fell 1.3 percent, Petrovietnam Coating JSC (PVB) dropped 1.4 percent and Petrovietnam Drilling & Well Services (PVD) was down nearly one percent.
Cuts in the interest rates for dollar saving accounts made by the State Bank of Vietnam on September 28 continued to undermine the banking sector as financial firms lost an average of 0.5 percent on top of a loss of 1.9 percent on that day.
Vietcombank (VCB) dropped 0.5 percent, and both Vietinbank (CTG) and Saigon-Hanoi Bank (SHB) were down 1.5 percent.
Shares fell despite positive news about Vietnam's economy. The Government said gross domestic product likely grew 6.8 percent in the third quarter compared to the same year-ago period. Last week, the Asia Development Bank raised its 2015 growth forecast for Vietnam to 6.5 percent from 6.1 percent.
Market volume slightly improved from September 28 with nearly 131.6 million shares traded worth 1.93 trillion VND (85.7 million USD), an increase of 5.8 percent.-VNA
Shares extended rallies on Vietnam's two stock exchanges on September 21 as investors were confident the country's growing economy will boost company earnings.
Shares lost early gains to close lower on September 24 on the HCM Stock Exchange as many blue chips turned around to decline towards the end of the session.
Vietnamese shares declined on September 28 on both local exchanges after the State Bank of Vietnam reduced the saving interest rate for US dollar saving accounts, which hurt bank shares.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
An investor passes by automatic stock trading boards at Tan Viet Securities in Hanoi. (Source: VNA)
